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Rhyno
 
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Don't cry for the bankers!

06 July 2012, 08:34

Forget about robbing banks, try stealing the entire bank itself, or better yet...all of the banks in the country!

‘The heist of the century...’ some would say when considering Zimbabwe’s newest brain illumination with their banking sector, albeit the will of one party and quite possibly, one man.

Banks being robbed are quite common, doesn’t matter where on earth they are, but stealing the actual bank itself... (?) that’s a whole new set of ridiculousness we are yet to experience.

One would think that they would produce some form of tax to get the money, yet with astounding efficiency they remind us of their ability to surprise, by just cornering the market and helping themselves to it all.

It seems Zimbabwe is going full circle with Africanising the way the country is governed, pushing the boundaries of being the poster child for the failed state scenario to unimagined heights. If ever there was a worst case scenario for any country to end-up, our northern neighbour would be it...

Many have said that we merely need to watch our crystal ball... called Zim, to see where we would end up eventually, but the fact remains, that none of the draconic policies we have feared have been implemented...yet.

Personally, I would shed far greater tears for the loss to nationalisation of other industries, such as agriculture and mining than banking. Most people hated the banking sector for as long as they could remember, yet during the latter half of the past decade, the banks reminded us all why we absolutely despise them.

Take your pick as to your own personal reason... it could be the world financial crisis they dumped us in or the farfetched bank charges associated with local banks, the fact remains that banks have been rated as some of the most hated brands in the world, especially during the last couple of years.

Ok, so nationalisation may be a little harsh, not to mention the fact that it is counter free market norms, but the thought of them falling victim to the only thing worse than them...the standard African government...does have me toying with a crack of a smile, no matter what.

Obviously, the only reasonable alternative would be to regulate the hell out of the banking sector, possibly even to such an extent where their autonomy is only vested in the hours they choose to open their doors each day, and nothing else.

After all, the lack of regulation is the most important reason the entire world is in a recession at the moment.

I have no doubt in my mind that local banks will be regulated more and more in the years to come. Pravin Gordhan’s recent rants on banks are evident of this, whilst the same issues are a little more complex in developed economies such as the U.S and Britain.

Speaking of the Britt’s, it seems Barclays hasn’t done the banking sector any favours with their recent lending rate scandal, pushing the bank’s PR department and lobbyists into overdrive.

Not even Big Tobacco never had to deal with this kind of incompetence!

At least their customers didn’t hate them as much as the banks...primarily because you knew what you were getting when lighting up.

So, back to the Zimbabwean banking sector...if there still is such a thing...

Personally, I don’t see any gains for the Zim government in their latest move, other than them thinking they receive the keys to the vault by taking such drastic steps.

I suppose this move then epitomizes the worst thing on earth, consuming the second worst...sparking a substantial...”I couldn’t really care” from some people, as if to say that Old Bob and the bankers deserve each other in this life as well as their next. (Warmer climates you know...)

I am not one of those prophets that point to Zimbabwe to get a future picture of S.A, but if ever there was a situation I wouldn’t have cared about, the “Bank Grab” would be it.

In S.A we have a system of threats, leading to over regulation and over taxation. What I mean is, the Youth League spells communism, nationalization, and any other act in becoming a banana republic, in order for the ANC to play the hero that doesn’t implement them.

What normally follows is a series of acts regulating a certain issue quite rigorously, whilst everyone feels liberated that someone saw the light...

For those that don’t know, it’s a con... nothing more than a negotiation strategy by the current government they deployed with brilliant success during the CODESA’s of earlier days.

The ANC government doesn’t want to run everything, in fact, they don’t want to run anything...they just want their cut!

If they were to nationalise the banks in S.A, then they’d have yet another thing to save in five years when it’s run into the ground. For that matter...who on earth wants to get into the banking game these days!? Oh yes, how could I forget, the Zim Government...

I suppose the banks are safe on this side of the border, for now. The question remains then, how and when they will be regulated to such an extent where the world is buffered from their mistakes...or their mere existence, for that matter!

Even in the unlikely event that banks are nationalized in any other part of the world, or for that matter, over regulated...

Would you really miss them? Don’t think I would...

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